Prepare Banks Corporation's statement of net income for the current year reflecting

the discontinued subsidiary, assuming that it met all of the necessary conditions to

be reported as a discontinued operation. The discontinued subsidiary accounted for

$20\%$ of revenues and $15\%$ of all operating expenses. $($Use the condensed, multi$-$

step income statement format and assume the company is subject to a $40\%$ income

tax rate. Round your answers to the nearest cent, $X$.$XX$.$ Use parentheses or a

minus sign to enter any loss amount.$)$

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